Market Mantra:

Yesterday, as expected, the S&P CNX Nifty opened with a gap on the downside and got support near 4950--4965 ranges. Sustained buying from this level took Nifty to the day’s high of 5030, finally settling at 5017 with a loss of 22 points only.

A range bound session with negative bias can be expected today amid weak global cues. However, Nifty continues to find support between 4950-4965 levels. Smart rally from the oversold area below 4800 and a weekly close above 5000 mark clearly shows end of the downtrend started from 5700 level. Rally is expected to continue in market. Long positions may hold on to with a stop of 4700. Also, have a look at the mid and small cap stocks, as this space has started to perform well once again.

Buy Bank of India at around Rs.300, T--Rs.345, SL--Rs.280. HDFC Life is bullish on banking, technology and consumption sectors due to attractive valuation, said chief investment officer Prasun Gajri, who manages assets worth 27,000 crore. This call is valid for 10-12 days time frame, after which either you exit at the stop loss or book profits.

My recommended, Shree Asthavinayak Cine Vision Ltd hits another buyer freeze in the morning trade. It was expected after the company came out with brilliant set of numbers for the Q1FY12, its plans to launch a number of movies in 2011-12 period. Its medium to long term targets could be as high as Rs.31--32. Congratulations to all those who have bought the scrip during the last few weeks on my continuous recommendation in this blog.  

Accumulate Country Club India Ltd at around Rs.9.86-10, for a target of Rs.25-26. The company is doing excellently well and it is surprising how the stock is trading at such a low P/E and when its book value is more than 10 times the CMP. Therefore it is proved that the scrip cannot trade at this price as this it looks stark abnormal and it is bound to move  up. Yesterday, it came out with series of announcements, from Country Club Ltd, which augurs well for the company. Hence, accumulate the scrip at the current price without fail.

Allied Digital Services Ltd recommended last week, hit the 3rd consecutive buyer freeze. The company is coming up with dividends and also, its has started to focus the space of Cloud Computing (a new vertical) in a more agressively. The stock has a long was to go, as it was unnecessarily hammered out of proportion, in the last few months.